Irvine-based BayWa r.e., a unit of a German industrial conglomerate, has acquired Enable Energy Inc. of Sacramento, a commercial and industrial solar and energy storage solutions provider. Financial terms were not disclosed.
“The acquisition represents the latest move in BayWa r.e.’s growth and expansion strategy in the Americas,” the company said in a statement yesterday.
BayWa r.e. said it sees multiple synergies resulting from the acquisition of EEI, in particular those resulting from its capabilities in serving enterprise C&I customers and utilities with turnkey services.
“Enable Energy is one of the fastest-growing solar and energy storage solutions providers in the U.S.,” said Axel Veeser, managing director, BayWa r.e. USA LLC.
The Irvine-based unit is part of BayWa AG, a Munich company operating in the agriculture, energy and building materials sectors.